Outlook

On Friday (24 February), Nordex warned revenues in 2017 and 2018 are set miss previous expectations.

In today's results presentation, Nordex said over the next two years, there would be an increased pressure on volumes and prices.

Particularly, it expects a shrinking European market, on which it heavily relies, as the industry moves to an auction-based system.

The company said its programme to reduce cost of energy should counteract pricing pressure in 2017, meaning its Ebitda margin this year should remain stable, despite expectations of lower revenues. In 2016, Nordex's Ebitda margin was 8.4%.

However, further pressure in to 2018 is expected to increase beyond the cost programme, the manufacturer said.

Revenues in 2017 are also expected to suffer as a result of a delay in entering the Indian market, according to the firm.